BUSINESS

ATHEX: Banks index swings to negative for the year

TAGS: Stocks

The decline in local stock prices which started in the first half of the month appears to be gathering pace, with the benchmark losing another 2 percent on Monday. Banks were unable to halt their slide as their future remains uncertain given the pressure for an asset review.

The Athens Exchange (ATHEX) general index closed at 760.79 points, shedding 1.99 percent from Friday’s 776.20 points. The large-cap FTSE-26 index contracted 2.13 percent to end at 2,000.90 points.

The banks index has now swung to negative for the year (by 0.72 percent), after its 3.28 drop on Monday. That decline was led by Piraeus (down 5.91 percent), Eurobank (2.92 percent) and National (2.85 percent).

In total 28 stocks posted gains, 79 registered losses and 15 ended unchanged.

Turnover amounted to 77.4 million euros, down from last Friday’s 139.6 million.

In Nicosia the general index of the Cyprus Stock Exchange decreased 1.04 percent to close at 73.87 points.

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